Healthcare AI startup Qventus just raised $105 million from private equity giant KKR. Here's the 17-slide pitch deck it used.

Healthcare startup Qventus has successfully raised $105 million in Series D funding, led by KKR, as it works towards achieving breakeven this year by expanding its customer base among health systems. This funding round also saw participation from key health system clients like Northwestern Medicine, HonorHealth, and Allina Health, as well as existing investor Bessemer Venture Partners.

The new capital comes at a critical time as Qventus enhances its AI-powered technologies, which automate various non-clinical tasks related to surgical procedures. Launched in August, this software assists in preparing patients for surgery by handling activities such as patient messaging, fetching medical records, and managing paperwork. This development represents a culmination of Qventus’s decade-long efforts to streamline hospital operations and improve efficiency.

CEO Mudit Garg highlighted the rapid adoption of the new AI assistant, stating that it has garnered significant interest from customers, thereby accelerating the development and delivery of new solutions. The Series D funding consists of $20 million in venture debt and $85 million in equity financing, showcasing the strong interest in leveraging AI within the healthcare sector.

As the market for AI-driven healthcare solutions grows, Qventus is not the only player making strides. Other startups like Fabric and Jimini Health are also focusing on optimizing healthcare administrative processes, indicating a trend towards the incorporation of AI in managing patient care and operations.

Moving forward, Qventus plans to explore new use cases for its technology, including automation for complex surgical fields such as oncology and cardiology, while also expanding its engineering team to support its growth trajectory and customer needs. Despite the significant funding, Garg emphasized that the company is not yet contemplating an exit strategy, focusing instead on solidifying its position in the market.